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talking about 6,000 to talking about 5,900. the german bund rallying. same goes for the uk. we're seeing a rotation into safety, out of risk and out of spain and italy. about 4.5% for italy. thin trading in markets is exacerbating the move that we're seeing as we approach the year. today, the austy dollar is weaker against the u.s. dollar by about .4%. proxy there for global growth prospects. the dollar/yen is weaker by about .25%. this as markets digest the news out of the boj and gauge whether they'll be successful in boosting inflation ultimately. the euro/dollar, 1.3221. so for trading in asia, just how japan, china and the rest have been affected by fiscal cliff news, diedra morris is join onning us with plenty more. hi. >> hey, kelly. it was a bit of a rude awaking. a lot of these indexes were on their way to gains and then we had the fiscal cliff setback. we had news that john boehner's plan b failed. this all turned red and this is where we ended. the nikkei 225 coming back from that huge rally that we have seen over the last five weeks shedding 1%. the exporters hurt here becaus
of just 2.5% in the u.s., 1.5% in canada and zero growth in the uk. locally, cutbacks in government spending weighed on the numbers and lower commodity prices also impacted on cash flow and the government is facing more criticism about its effort to keep the budget in surplus while the economy grows. >> the government has had the objective of making sure that we would bring our budget back to surplus when growth has been around trend. what we've been seeking to do through good budget policy has been to provide maximum flexibility to the reserve bank to a just rate so. the government will always put in place appropriate budget settings which will support growth and jobs. >> still, analysts say growth could slow further as the mining investment boom peaks. yesterday, the bank of australia cut interest rates to a record low of 3% and traders are looking further easing next year to offset the falling talks of trade, the high australian daughter and further cutbacks in government spending. >> despite that prognosis for rates and the fact that we're now matching the record lows here, the
the past year, we have seen great progress [inaudible] leading the way. but just as the u.k. deficit is not balanced with the government public transport issue are not solved in one year. we're public transport continued a national priority. we can't -- [inaudible] for the like of my young cousin. we can deliver more transport to get students from point a to point b. we can build a better, brighter future for young people. so when the opposition argument say it's not a national campaign, a focus of the divided region. i tell you this, divided we are weak, but united are the nation we are strong. more nation, one notion, one campaign. better public transport. [applause] [applause] >> thank you very much ib keyed for that. i note we have been joined by the former government chief when the labour party was in office nick browne. the member of parliament. it's great to have you here. thank you for coming. to oppose the motion, i call from the east of england. [applause] >> thank you, mr. speaker. we are here for one reason. to make contain and empower the young people that we so proudly
on the very issues which the u.k. yb are discussing in the combat. we know schools across the country are tuning in to watch and that is hugely welcome. just on process and housekeeping, let me say the following. first, nyp who wish to speak should stand in their place, or raise their hands if seated in a wheelchair. secondly, and most importantly, nyp should always say their name and region at the beginning of their speech. otherwise -- the official record of our proceedings will be deficient. the writers will not know who you are unless you say. if you be good enough to pause, momentarily, before you start your speech, that will give an opportunity for the microphone to be activated. your gain here -- you're going to hear from the leader of the house and the leader, whom is my delight to welcome here today. leader of the house andrew, and angela. and the parliament tear undersecretary of state at the department of education, the children's minister edward. edward, andrew, angela, it's a delight to have you. before we hear from andrew and angela, i call in order to read a message fro
-span. on wednesday the british chancellor, the u.k.'s head of treasury released the annual report on the british economy. prime minister david cameron took questions on proposed cuts that he says will help the deficit on the u.k. he also answers questions on afghanistan, securing the border, and youth unemployment. this is just over 30 minutes. >> number one, mr. speaker. >> thank you, mr. speaker. i'm sure the whole house will wish to join me in graduating the duke and duchess of cam brage on the wonderful knew they are expecting their first child. turning to my friend's question on afghanistan. the threat to global security from al qaeda has been significantly reduced and this is in large part of the brave work of u.k. and afghan armed forces. we remain committed to afghanistan for the long-term and we continue to support the development of afghan forces through continued funds and training. our crrt that aid to help the state to police its own lands. it is this part that al qaeda won't will able to re-establish itself in afghanistan. >> the taliban is being told when most of our troops are le
the uk's high divorce rate rather than promoting marriage. the coalition for equal marriage is love is love regardless of gender. well, i would add that love is love regardless of marital status. and while the majority of us, almost all of us absolutely believe in marriage for all his rate and yes, compared to some countries can bush legalize same-sex marriage some years ago, i note that the u.k. has been slow to act. if things are rapidly changing. the huge success of civil partnerships recognized commitment to same-sex couples has been a capitalist for this change. david cameron has pledged to legalize same-sex civil marriages by 2015. abdallah before marriage will be introduced here in this chamber in a 10 minute speech. i accept this as a plot to talk about such an important issue, but it's longer than i've got. i'm at the parliament or a cynical access marriage, there is a danger that any campaign will be overtaken by the legal change we seek. i conclude we have three main priorities. quality, quality, the national campaign will not provide the equality we required. more import
prices to next year. it will be oil related, a chance, good job with raising the tax threshold in the uk. that means for the first year in five. uk link will be up, not down. and them i also think thattory thing our chancellor did a good job of was she raised taxes by 10 so companies can invest a 215 pounds, not just 200 pounds. >> that's a leverage the other governments have been trying to pull. but your point is interesting. it's not just the uk we were seeing there. and it goes back to the point you were making about oil. u.s. retail gas prices are down 16% since their peak this year. if it weren't for the fiscal cliff, this is actually a big source of stimulus for households. absolutely. i don't want to make too much about it, but the biggest attacks oeft with the and elevated since the mid '70s, it could be coming to an end. so i think that is something we need to be aware of. the annual fuel rate in the uk is about 15 billion to consumers. you're looking at another percent on income. so as i'm sitting down righting the income for next year, it's not all doom and gloom, the mood is
answered questions on afghanistan, secure in the u.k. border. this is just over 30 minutes. >> number one, mr. speaker. >> thank you, mr. speaker. i'm sure the whole house will wish to join me in graduating the duke and duchess of cambridge on the wonderful knew they are expecting their first child. turning to my friend's question on afghanistan. the threat to global security from al qaeda has been significantly reduced and this is in large part of the brave work of u.k. and afghan armed forces. we remain committed to afghanistan for the long-term and we continue to support the development of afghan forces through continued funds and training. our contribution that aid to help the state to police its own lands. it is this part that al qaeda won't will able to re-establish itself in afghanistan. >> the taliban is being told when most of our troops are leaving and they need to be told when sanctions to expect if they help al qaeda to return. what would those sanctions be and would an allied strategic base serve to make them credible? >> i think the most important sanction for everyone to be
, is profoundly stuck. the u.k. has been put on negative watch on three largest credit rating agencies. the european union is britain's largest trading partner, europe's economy remains on prepares you footing despite several months of relative calm and there's a growing debate about whether the u.k. should lead the e.u. earlier this month we covered the "economist" magazine read "good-bye europe, look what happened when britain left the e.u. " i'm pleased to have george osborne back on this program and back at this table. >> thank you very much. >> rose: you're in new york city for a speech at the manhattan institute. >> i did that last night and had some meetings on wall street, seeing them there later. >> rose: so what's your message about the british economy to manhattan institute as well as the mayor and wall street? >> well, the basic message is britain is open for business. if you want to come and invest in a country that is dealing with its problems, cutting its business taxes, providing opportunities for companys to go britain is the place. i think we're doing better. >> rose:
about the contrast between the u.k. and the united states which i think is revealing, and some world's about -- words about challenges facing the world economy which is more important than those facing individual countries alone. the united kingdom was hit very badly by the financial crisis. total gdp fell by 6% between the peak at the beginning of 2008 and the trough in the second quarter of 2009. output still remains 3% below the peak level. and more than 15% below levels that output would have reached have the long run average growth rate merely continued. on top of that, the inflation rate has been a 2% target. and in the wake of the financial crisis, the budget deficit reached a level of 11% of gdp, a good part of that being structural. we have serious problems to contend with when trying to put in place an economic recovery program in 2009-2010. it was clear at that point that the u.k. needed a major rebalancing of our economy. the shift of spending away from consumption, private and public and toward the net exports whether exports or production to compete with imports. the st
'll take a look at gilts. slightly lower, 1.77%. big day for uk. manufacturing pmis out for the month of november. italian and ten year sbpanish yields are also lower. down on the greek announcements, but substantially below 6%. ten year bunds 1.37%. those yields slightly higher. on the currency markets, we talked about this euro-dollar six week high. below that at the moment, but not by much. dollar-yen moving off the 7 1/2 month high at 82.17. aussie dollar weaker despite the good chinese data. dipping below 1.04 earlier on. we had retail sales data that was a little bit disappointing. sterling-dollar back above 1.60 as we wait for the pmis. the most searched terms apparently of 2012 were the u.s. election and iphone 5. and while the most searched person of the year was kim kardashian, this is according to yahoo! search engine, kate middleton and political polls also made the top ten list. so here is a simple question for you today. what dunk were the most interesting stories this year or the most interesting story, the election, the owe almost picks, the ongoing saga in greece. let
to pakistan is reunited with her mother in the u.k. welcome to "bbc world news." also to come, no where to pray for moslems in athens. and a quite at hollywood that revolution, making big returns to the silver screen. >>> breaking news coming to us from singapore. in the past few minutes, it was just announced that the indian woman who was gang raped in delhi earlier this month that has caused national average has died. she was being treated at a hospital in singapore where she was on life-support. in india, her brutal attack triggered nationwide protests. the authorities struggling to contain the growing anger. we have received a statement from a doctor, the chief executive of the hospital where she was being looked after. "we are very sad to report the patient passed away peacefully at 4: 40 5:00 a.m. today singapore time. her family and officials from the high commission of india were at her side. we join her family in mourning her loss. the patient had remained in extremely critical condition since admission to hospital from the morning of december 27. despite all efforts by a team
the front, the opposite, is where we got someone in the bushes. >> this is aerial video from the uk. that white hot spot you see in the middle of the screen is a woman that was washed away from her 4x4 that was trying to cross a flooded river. when police arrived, they saw a man and his son on top of the vehicle, but the woman had been washed downstream. the father and son were rescued by a nearby farmer. rescue crews had to use this heat-seeking camera to find where the woman was. it's hard to tell, but she's clenching to a branch in the middle of these floodwaters while the helicopter keeps an eye on her, and guides a rescue boat down river to pick her up. >> it's amazing. she was washed away by floodwaters and was able to end up grabbing something and holding on to it until rescuers got there. >> clinging for about an hour. rescuers, you see here, able to get her in the boat. she survived and was okay. imagine the helicopter once it located where she was, sort of just hung out in the air. >> yeah. just being those eyes in the air was key to this woman's survival, and to give you
significantly reduced in large part the result of the great work of the u.k. and afghan armed forces. we remain committed to afghanistan for the long term and continue to support the development of the afghan national security forces through continued funding and involvement in training. continued contribution to a and the political process combine with armed forces efforts will underpin a state that is capable of policing its own lands. at this part al qaeda will not be able to reestablish itself in afghanistan. >> dr. julian lewis. the taliban have been told when most of our troops will be leaving and they need to be told what factions to expect if they help al qaeda to return. what will those sanctions be and would an allied regional strategic base serve to make incredible? >> the most important sanction for everyone to bear in mind is afghan national security forces are already at the level of 335,000 and increasingly capable and increasingly able to police and secure their own country but of course we will continue to be involved not least through the opposite training academy we will esta
service for senator taan -- daniel inouye. then the u.k. youth parliament holds a debate at the british house of of commons. >> president obama, vice president biden and former bill clinton spoke at the memorial services for the late hawaii senator daniel inouye today at the washington national cathedral in washington d.c. senator inouye died on monday at the age of 88 and was the second longest-serving senator in history. this is an hour and 45 minutes. .. >> i am resurrection and i am white said the lord. whoever has faith in me shall have lies, and everyone who has lies and has committed himself to me and she shall not die forever. as for me, i know that my redeemer lives and that at the last he will send upon the earth after my awakening, he will raise me up and in my body, i shall see god. i myself shall see in my eyes behold him who is my friend and not a stranger. for none of us have wife and hands of a none terms his own master when we die. for if we have life, we are alive in the lord and if we die, we die in the lord. so then, whether we live or die, we are the worse possessio
mother country against this time no muss cet, u.k. sides u.s. companies like microsoft, and amazon, and starbucks of dodging taxes in the u.k., but all 4 companies are saying what they are doing is legal, and by british financial law, went their rights it is british government's fault for not closing the hoop holes that many of the companies are taking full advantage of. good to have you. >> thank you. neil: what do you make of this? >> put it this contact, for the moment, britain. david cameron came into power. neil: they are sweating a lot. >> they instigated deficit reduction it has been tough times, britain with a double dip recession this year, so, it is all about shared sacrifice, everyone from the queen, doing their bit. neil: does the queen sacrifice? >> she seen as not taking -- but all about everybody on the budget. then you have starbucks that found out, you can't move the starbucks in britain, taking away a lot of traditional british tea shops have you starbucks. it has moved in over a third of coffee shops are starbucks. past 14 years starbucks paid lesser than 1% in c
and that is how we got here. that is how the uk got there. on the other hand, as countries get rich, they start increasing education. very educated people tend to not like trial and error. productivity drops and the rate of innovation drops. tavis: you mentioned the uk. how does this notion of "antifragile" apply in a place like egypt right now? >> the way i was complaining about egypt before the arab spring. when you suppress political life -- political life loves volatility. switzerland is a perfect place where you have volatility at the municipal level, but nothing of talk. the exact perfect on stable system is like saudi arabia or egypt. egypt before the arab spring, we had no information for 40 years. no information. a system artificially stabilized and you have hidden risks under the surface and you do not know what they are. that is what happened with the arab spring and now we are seeing things and it may turn into a total mess. the system is fragile last by depriving it from some rigid depriving it of political ofatility -- depriving it political volatility. tavis: doesn't always lead
.5 billion in penalties. regulators in the u.s., u.k. and sorts when charged ubs and manipulating a key interest rate known as libor. >> his was person -- pervasive manipulation of global benchmark interest rates by dozens of staff across three continents. and the heavy fine reflects the regulator's concerns. the ubs chief executives said those of all but the extent of the fraud and bribes maybe revealed by further criminal investigations. in just one instance revealed by the u.k. financial services authority, ubs made corrupt payments of around $24,000 a quarter for 18 months to brokers to thank them for helping them manipulate the global industry. libor is used to price more than $350 trillion of contracts around the world. potential losers include pension funds, insurance companies, and individuals. more than a dozen banks have been caught up in an international inquiry and there are more cases to come. >> i would imagine there are probably more skeletons in the covered, and that really think that some point policy makers and regulators need to start focusing on the fact that we will
and to pakistan three years ago has been reunited with her mother in the u.k. in the past couple of hours she arrived at manchester airport. she was taken from her home in greater manchester on her third birthday, found with the help of the pakistani authorities and is understood to be fit and well. the police officer who met her off the airplane has been talking to the bbc. >> she has been reignited at a hotel near manchester airport with her mother. -- she has been reunited at a hotel near manchester airport with her mother. it is a good news story, and this time of the year we are happy that this has come to fruition. >> were you there? >> >> yes, wheat discreetly to occur from the aircraft with a number of extended family. she has been reunited with her mom. clearly, she is 6 years old. she has been in pakistan the past three years, so she is disoriented. she is a bit quiet. she does not speak english at the moment, so will be a long time for her extended family to get to know each other again. but i am sure with the love of the family, it will go well. >> she was taken straight to her mo
the west coast of the united states. >>> there's a documentary a iring in the uk that goes behind the scenes with adult babies. these are adults that like to pretend they are babies. >> it takes me back to that time when i have no stress. >> derrick is an adult baby. >> he is special but a special bond between two people. >> as you can see here derrick is in a crib that is fitted for a grown man. he has a high chair for a grown man. a pacifier fitted for a grown man. he's getting his diaper changed by his partner. this is called "the 15 babies" a reference to weight in the uk. they interview people in the uk and united states. >> [ inaudible ] you know, we don't want to be weird children. we want to be the child. >> it's hard not to just laugh at this but on the other hand, be hey, you know what, you got one life to live in nis world, live it happy. if you're not hurting, i guess there's nothing wrong with it. >> it's a hidden world. >> i think i'm weird and a freak and never want to talk to me again. >> full of pain and secrecy. >> i can't tell how i feel. >> now adult babies are
, relatively flattish trade, as well. the yield here on the spanish yield, 5.3%. the uk seeing yeldz slightly higher, as well. but, of course, it is christmas. it is the holiday season that we're up against. so you would anticipate that maybe some investor res closing out recent profits. sitting tight and waiting for that next year to start, karen. >> thanks very much, louisa. we are indeed in a festive mood. let me echo a very merry christmas to the viewers out there. on the agenda in the united states, there's no economic earnings start to go speak of this christmas eve. the markets will be closing early with the nyse and nasdaq depending at 1:00 p.m. eastern, the cme at 1:15 and the nymex at 1:30. the cme will close up shop at 1:45 eastern. u.s. investors get the monthly case-shiller home price index on thursday wednesday. thursday, it's jobless claims, new home sales and consumer confidence. friday, we round out on the week with the chicago pmi pending home sales. interesting to see the level of volume that we had in u.s. markets on friday. it was 4.8 billion shares traded. the fourth lig
from the u.k. says this is all perfectly fine. you don't have a problem? >> they are bit like, today, actually, 150 federal agencies already on youtube as part of efficiency and government as it were, part of transparency. fundamentally, as far as government goes, obama cut 600,000 jobs from federal government arriving in 2009. this youtube program i think is one of the reasons for doing that. government all around the world use media in this way. neil: i want the 600,000 jobs back and not worry about the trillions in deficit we incurred as a result, wouldn't you? >> well, yes, there has to be a shift on the view of americans on entitlements. there's fascinating research saying that 53% of voters had used entitlements, and 59% of obama supporters used entitlements. there has to be a shift how americans think about entitlements, but a youtube channel will not change that. the most popular youtube channel? irs. youtube is actually helpful. neil: i worry about anything that makes it easier for you to get benefits from the government. i worry about it because there was a woman on earlier
this promotion drives us towards a fiscal ditchand weber from the u.k. says this is all perfectly fine. you don't have a problem? >> they are bit like, today, actually, 150 federal agencies ready on youtube as part with u. good night from new york. neilwheeling and dealing, and despite the shouting back and forth, that says a fical cliff deal is coming. that's the good news. now, the bad news. it won't remotely tackle spending of the it is not what they are saying. it is what big spenders are promoting in a youtube video that's gone viral. i want you to ignore everything that you've been hearing out of washington today because i think at the end, it means nothing. focus on this video beause i think it's going to tell you everything. take a look. >> to begi the benefit finder, first answer all of the nine simple core questions that are essential to narrowing your relts. you will find a program description, general requirements, and your next steps on how and where you can apply. receiving the latest benefit information has never been easier. we hope this tutorial helped you on your path to gover
if it weren't for the ipad, the uk sales figures would be extraordinarily weak. >> yes. although, you know, for the uk economy, the consumer sector is not the weakest point. i think what is interesting about the uk economy in the last six months is this quite stronger than expected growth. if you look at the gdp number. but a very worrisome trend. so a liberal market that remains very, very firm with respect to other similar economic weakness. and i think that is what we really have to solve on the uk economy to know if this relativerelativ relatively soft, but also, i mean, rather encouraging if you look at other european countries numbers. i think we will have to wait until well into next year to understand if this is going to have a long-lasting consequences on the uk economy and also on the consumer sector. it's too early to say. >> you mentioned it's not necessarily the consumer where we're looking at the gauge of growth in the uk. but we see the employment figures be relatively strong even at a time when gdp generally is weak. what's the disconnect between what we're seeing in the em
july, 2011. up .5%. yields coming down during the session yesterday. employment numbers out of the u.k. in around 15 minutes or so. we'll keep our eyes on that. yields also -- treasury yields, 1.67%. gild yields, 1.63. and bond yields higher. they got kicked higher in germany post that survey which we broke on the show, as well. as far as the currency market, dollar bit under pressure ahead of the fed. euro/dollar 130.08. we were down late friday and early monday trade, as well. dollar/yen, highs polls suggest mr. erbe will be a clear win in japan. however big will the lead be and what influence tell have on the bank of japan. dollar and yen pressured by more q.e. talk. and aussillar three-month high. the prospect of q.e. boosting commodityets. canadian doing well. firm at 1.6122. we have more on the asian trading day out of singapore. >> reporter: hi, thank you, ross. most asian markets finished on a bright note. the shanghai composite recouped morning losses in positive territory. property stocks turned higher in the afternoon. stocks also rallied while investors await beijing's det
benefits. and across the uk, there's over 1000 people who have died only months after being told to find work. this is 2012. we are supposed to be a civilized society. we should be looking after the disabled citizens here in the uk. will the prime minister listen to the 62000 people who signed the petition? and finally, finally, please order an assessment of all changes -- [inaudible] >> i will look very carefully at the very tragic case the honorable gentleman brings to the house, everyone's thoughtful got to that person family and to what has happened to them. what i would say to him is that the actual money we're putting into this disability benefit over the coming years is going up and not down. i think everybody knows that everyone except when it have a review of disability benefits. some people have been stuck on these benefits and not been reviewed for year after year after year. that is the view of the disability charities and that's the view of the government as well. >> harry jaffa baldwin. >> thank you, mr. speaker. as we approach christmas, will the prime minister join me in
are supposed to be a civilized society. we should be looking after the disabled citizens here in a u.k. -- of that u.k. will the prime minister listen to the thousands of people who signed the petition and finally, please, order an assessment of all changes for disabled people in this country? >> i will look very carefully. obviously it is a very tragic case that the gentleman brings to the house. everyone's thoughts will go out to that person's family and what has happened to them. what i would say to him is the actual money we are putting into disability benefits over the coming years is going up and not down, but i think everybody knows and everyone accepts that we need to have a review of disability benefits. some people have been stuck on these benefits and not been reviewed for year after year after year. that is the view of the disability charities and that of the government as well. >> thank you, mr. speaker. as we approach christmas, will the prime minister john me in celebrating the fact that there are more people in employment this christmas than there have ever been in this
export performance, creating jobs in the manufacturing sector. but germany and the uk need europe to improve. >> it comes at an inkrd eblly high cost in terms of the number of people out of work. what has been done? how much have we destroyed so that the jobs outlook and growth prospect in this country? >> well, what growth prospect in the southern european countries? we're seeing definitive bifurcation of northern europe and southern europe. southern europe, we are creating an underclass of long-term, especially youth unemployed that is going to give us a problem when the economies eventually start to get into balance and start to pick up. we still have this issue, even though we have tens of millions of people out of work, we still can't find the right skills and the right time. >> you mentioned the uk. the unemployment picture never got that bad in britain. so what happens now? why did it outperform? >> the uk is so different from the rest of europe. we've got london, the financial services sector, that didn't actually, in terms of job numbers, get hit as hard as the rest of eu
between us is we won the large multinational companies to pay proper taxes here in the u.k.. we believe you do that by having lower tax rate and we reduce the rate of corporation tax but by making sure they declare their income properly. that is why on this specific issue of transfer, companies have been pursuing strange practices to pretend there revenues aren't delivered in the u.k. and run down their tax bills. .. >> the entry of the energy bill to parliament now means we can get out there and sell to all of the energy companies the very clear and stable framework that the u.k. has for offshore wind, for nuclear, for renewables and, indeed, for gas. i think it's a very positive development, there's a huge amount of potential, pent-up investment, and we need to make sure that results in british jobs and apprenticeships, and the government is fully committed to making that happen. >> [inaudible] pruitt. >> the prime minister obviously believes within the leveson report, there exists something that is bonkers. how would the prime minister give the views of his planning minister
in ubs have edged up in early trade after the bank announced a major settlement with u.s., u.k., and swiss regulators over its role in the libor fixing scandal. with more we'll look at the story with carolyn roth with us on set. i guess we're expecting a settlement, expecting something big. what have we learned today? >> well, first of all, i mean, the market reaction -- ubs up by 1%, can you believe that? what barclays was hit with $450 million fine, i mean, we saw a big hit in barclays' share price. this fine is three time the amount that barclays was fined. $1.5 billion or $1.4 billion swiss>>frank: francs. this is on the libor manipulation charges. ubs must pay swiss regulators $59 million in profits because the regulator can't fine ubs. the fine from the fsa is the biggest ever, 160 million pounds, $1.2 billion will go to the u.s. regulators. so the second biggest fine that was ever handed to a financial institution. of course, following that $1.9 billion fine that was given to hsbc. what we do know is that the company is admitting criminal wrongdoing in its japanese arm b
of congo. the drc is now back in control -- control. in the uk, starbucks says it will start paying corporation tax. the company has nearly 1/3 of the uk coffee shop market, but has only paid the tax once in the past 15 years. starbucks has been stung by public criticism of its actions. you're watching "bbc world news america." still to come on tonight's program, nearly 25 years after a deadly gas attack, one kurdish town is still trying to identify the scores of people who died. to japan now, where the authorities are trying to figure out how tunnel collapsed on sunday, killing at least nine people. huge concrete slabs in the tunnel smashed on to cars. that started a fire on the main route from tokyo to central japan. we report now on that story. >> only this morning, the mangled wreckage of three vehicles was brought -- early this morning, the mangled wreckage of three vehicles was brought from the tunnel. last came a small delivery truck. the driver had been trapped, but alive. by the time rescuers got to him, he was dead. the collapsed tunnel lies deep in the mountains of centra
questions on the immigration policy of the uk. this just over a half an hour. >> questions to the prime minister. >> this morning, i had meetings with ministerial colleagues. i will have further such meetings later today. >> mr. speaker, can my friend and confirm that the fall in unemployment figures is the largest since records began? will he meet with me to discuss how employment opportunities, including youth employment, can be promoted? >> i would be delighted to meet with my honorable friend to discuss the situation. he is absent -- he is absolutely right. the largest quarterly fall in a youth unemployment on record, 72,000 fewer people unemployed this quarter. obviously, there is no room for complacency. there are far too many people that are long-term unemployed. in these figures, we can see 40,000 more people in work. unemployment is down by 82,000. over 1 million extra private sector jobs under this government. >> mr. speaker, today's fall in unemployment and rise in employment is welcome. part of the challenge remains a stopping at the high level of long-term unemployment. doe
to come. in just one instance revealed by the u.k. financial services of 40, ubs made corrupt payments of about $24,000, a quarter over 18 months, to reward brokers for helping to manipulate the global interest rate. the u.k. authorities have already arrested three people in connection with the serious fraud of criminal libor investigation. >> shareholders are getting more serious about asking serious questions with these practices. there have not been enough to drive an enormous or definitive change in the banking culture as a result. this is why many people say the financial companies will not be as significant -- the financial penalties will not be as significant as the criminal police. >> ubs, already rocked by a rogue trading scandal, a tax investigation, and huge subprime losses. >>> william black is a former u.s. federal regulator and associate professor of the economy and law at the university of missouri. >> there is nothing astonishing about this behavior. this is what virtually every large banked active in the market did. and they did this quite predictably because the top m
force the u.k. government to make payouts of the payout over the space of three years. beatings, threat, sleep depravation, sexual humiliation say amount to systematic torture. >> you have to be very careful before you start embarking on anything that might turn into torture. the question is, of course, whether sleep depravation, whether food depravation, water depravation whether putting somebody in a cell without any access to any light or ability to exercise, well, is this torture? it doesn't take much of that to constitute torture. >> britain's ministry of defense while acknowledging the payouts assures that it wasn't anything but a few. the vast majority he said have acted with dignity. we seek to ensure that those responsible are brought to justice [beep] -- brought to justice. [beep]. [beep]. >> but it's starting to cost the u.k. government a lot of money. >> $3 million have been paid out. that's an average about 114. with almost two -- 200 cases the ministry of defense is likely to get bigger. there are the 700 or so individuals that could be filing claims in 2013. >> still ahea
of what weather. it is piling up over the u.k.. that is why we have the flood warnings. you can see more clouds trying to make its way across europe. as the rain makes its way into the cold air, it is turning more wintry. we will see it turned to snow. behind it is where the milder air is. towards the northwest, the rain continues. for the u.k., it will still be very what -- it will still be very soggy. we're looking in the top temperature of around 19 degrees. there is likely to be more in the wake of clouds. there could be showers across libya and parts of egypt. green festival, only on link tv. >> welcome back. police in india have used water cannons to disperse crowds in new delhi. people have been on the streets for six days voicing anger over the gang rape of a young woman. mario monti says his country has pulled itself out of the financial crisis. he stepped down after silvio berlusconi's right party withdrew support for the government prepare. the vote on the draft constitution in egypt is expected on monday. the moslem brotherhood is claiming victory. a senior provincial ministe
't seen that in the u.k. where the unemployment really hasn't reason as a result of such a deep downturn. >> is that the key factor given that we have had unrest in the past in bad economic times? do you think this time it's the unemployment figures that have made the difference? >> it clearly made a big difference because it shared the burden where whole industries would be wiped out or close to wiped out like the coal and steel industries in the 1980's. there was a focus for decent, a focus for protest. now it's more widely spread. someone in their street has lost their job. maybe a small closure but nothing like the massive closures we witnessed in the early 1980's. if things don't get better very slowly does that start to put a strain on democracy? is that why we've seen a rice in some of these extremist parties in europe? >> you have to be careful associating them directly with recession. the french national front was as strong and appeared in austerity when jacques chirac the leader of the nacional he was second in the french election. so the socialists were out even though it was
losses in the u.k. almost every year. >> if you've made losses in the suck which is what you're fighting, over 15 years, what has you doing business here? >> we know that we must within the u.k. to be a successful company. >> but you're not making money. >> we've had encouragement over times. >> 15 years. andre still making losses yet you're carrying on. if it's true. >> i assure you it's very strew. we're not at all there. >> i mean for 14 years of trading this -- in this country and get paid $17.6 million in corporation tax. you either want the business very badly or something else is going on. >> would you consider making a commit development the british marketplace about the degree to which you will have a fair approach to taxation? >> we are never aggressive in avoiding taxes by any means. we do not have tax havens in place. that's just now hot we do business. we look forward to deepening our investment. we have every intention to do that. >> your entire economic activity is here in the u.k. >> i do pay in pants. never comes out. your entire activity is here and yesterday you pay no
, theater commentator for klaw. chloe worked for several years in u.s. and uk theater companies and is the recipient of the allen wright award for arts journalism, the sundance institute arts fellowship and the nea fellowship of journalism. in 2006, she received a best columnist nomination at the annual san francisco media excellence awards and her first book on acting was published by farber and farber in the uk and farber, inc., in the united states. let's welcome phillip and chloe >> hi there, phillip. >> hi, chloe >> so, this play, it's been quite a journey. we're talking 3 1/2 years, maybe nearly 50 different drafts and 5 workshops? . >> five workshops, yes. >> so, looking back at the journey, how has it been for you and has it come out as you expected it would? . >> what's interesting is if you work on a play this long, normally there are times that it becomes redundant and you get a little bored with the piece. it's only natural. it's pushing 4 years now. this one was interesting in that it never got boring or ever felt redundant and each thing that we did over these almo
guys in the office participated in movember. dave phillips from the u.k. did the same thing, but he felt one month was just too damn easy. last new year's eve he shaved off everything and vowed not to shave for an entire year. >> or get a haircut? >> or get a haircut. >> he's going straight teen wolf style, just letting everything grow. >> you bet. so here's dave getting it all cleaned off, and here's dave a year later. doesn't even look like the same guy. >> he looks like he could be a member of the young zz top band. >> he's doing this all in the name of charity, namely the help for heroes fund. it's a charity that helps injured vets. so far he's raised more than $1700. >> i've got to say a mustache is one thing but, man, that looks uncomfortable. >> he says it's been itchy. he's looking forward to getting all this off. he's especially looking forward to kissing his newborn baby, give her a nice, smooth kiss from daddy. >> baby won't even recognize him. >> he's gotten a lot of notoriety in the u.k. for what he's doing. not shaving or doing anything for a year is going to change yo
to allow them to pay minimal tax in britain. >> not paying their fair share, despite being over the u.k. on every high street. it's gisting behavior. i pay my tax, why not starbucks? >> sometimes they position themselveses in other country to avoid paying high taxes here and britain. amazon did $320 million in turnover in the u.k. it paid less than $3 million in british tax. all of this within the law but parliamentary law accused them of immorally minimizing the tax obligation. some say don't blame the big guys. >> i don't moral is the way we ought to levy our taxes. it should be set out in law and fairly enforced by the tax authority. individuals have their own moral compass that guides what they choose to do. >> starbucks does appear to feel the heat of public pressure. saying we need to do more. we are looking at the tax approach in the u.k. the u.k. said it will tighten its tax regime but it has not said how. other european countrys have similar concerns. with some calling for more uniform taxation across the e.u., so some countries don't become tax havens at the expense of others.
in the u.k. that multinational companies are skirting taxes by shifting profits overseas divisions. the managing director of starbucks u.k. says they have always paid taxes to the letter of the law will make additional payments in 2013 and 2014 despite the fact that the u.k. unit is not yet profitable. the will and amazon have also been targeted as not paying their fair share and england. >> it is 6:11 a.m. and we'll be back in a couple of mess. minutes. you are just going to have to trust me, this is walnut creek. we will be right back. =dj local reservoirs' have seen a needed increase in water levels because of last weekend's storms. reserves and santa clara and proves it evidently with the rainfall. levels are still not exactly where they need to be though. since last wednesday the santa clara valley water district says average storage in their 10 reservoirs' increase from 74 to 91% where they should normally be. that is a nearly 4 billion increase of water. reservoir levels increased about 3%. east bay mud says all their reservoirs are at 85 percent capacity. water supply, they
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